17 April 2007
Platform reduces fixed rates across range
-
includes Buy to Let, Self
Certification and Non-Conforming
Platform, the intermediary lender of Britannia, will
launch on Monday 23rd April a significant reprice of fixed rates
across its entire product range. In a move designed to increase its
market share within the specialist lending sector in 2007, Platform
has reduced rates by as much as 0.75%.
The new rates significantly enhance Platform’s current offering
which includes free legal fees across its Prime,
Self-Certification, Buy to Let and Non-Conforming products, 110%
rental calculation option on its Buy to Let range and the removal
of higher lending charges on its non-conforming products up to 90%
LTV.
Platform has also reduced rates on many of its Tracker products
across all ranges by up to 0.50%.
Paul Hunt, Platform’s Head of Marketing said:
“2007 has already been a very exciting time for Platform, having
completed our first sameday offer using AVM technology plus being
recognised in recent industry awards for our high standards
of service. These achievements, combined with the benefits of our
Click online system, 110% Buy to Let rental, removal of Higher
Lending Charges and free legal fees for remortgages, lend
considerable weight to our overall market proposition. These
significant changes to our product range will undoubtedly appeal to
many intermediaries and position us well for the rest of the
year.
“We are proud that our customers can now enjoy significant
enhancements to not only our fixed rate products, but many of our
trackers as well. Increased competition coupled with uncertainty
over Bank of England base rate has placed the specialist mortgage
sector in a unique situation and as a lender at the forefront of
this market, these new products will ensure we maintain that
position.”
Examples of new headline rates include:
| Product |
LTV |
Fixed
rate |
|
Conforming 2 Year Fixed Self Certification
- Also available up to 90% LTV
- Fixed until 01/09/09
- Arrangement fee: £695
- Income multiples up to 85% LTV: 4.5+1 or
3.5 x joint
- ERC: 5% of amount redeemed until
01/09/09
- No higher lending charge
- Maximum loan: £500,000 at 85%
LTV
- Remortgage Special Option with free
legals
|
85% |
5.99% |
|
Conforming 3 Year Fixed Buy to Let
- Also available up to 90% LTV
- Fixed until 01/09/10
- A choice of 110% or 125% rental
calcualtions
- ERC: 5% of amount redeemed until
01/09/10
- No higher lending charge
- Maximum portfolio size: £3m (max £1m per
property -
- max 25 properties)
- Remortgage Special Option with free
legals
|
85% |
6.09% |
|
Almost Prime 2 Year Fixed
- Fixed until 01/09/09
- Arrangement fee: £695
- Also available up to 95% LTV
- Income multiples up to 95% LTV: 4+1 or
3.25 x joint
- ERC: 5% of amount redeemed until
01/09/09
- No higher lending charge
- Maximum loan: £300,000 at 95%
LTV
- Remortgage Special Option with free
legals
|
75% |
5.94% |
|
Medium Adverse 2 Year Fixed
- Fixed until 01/09/09
- Arrangement fee: £695
- Also available up to 95% LTV
- Income multiples up to 85% LTV: 5+1 or 3.5
x joint
- ERC: 6% of amount redeemed until
01/09/09
- No higher lending charge
- Maximum loan: £400,000 at 85%
LTV
- Remortgage Special Option with free
legals
|
65% |
6.49% |
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